BellRing Brands Inc. (NYSE:BRBR) Position Boosted by Truist Financial Corp

Truist Financial Corp increased its holdings in shares of BellRing Brands Inc. (NYSE:BRBR - Free Report) by 10.5% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 742,822 shares of the company's stock after acquiring an additional 70,683 shares during the period. Truist Financial Corp owned approximately 0.58% of BellRing Brands worth $55,310,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Versant Capital Management Inc increased its stake in shares of BellRing Brands by 1,742.9% during the first quarter. Versant Capital Management Inc now owns 387 shares of the company's stock worth $29,000 after purchasing an additional 366 shares in the last quarter. MassMutual Private Wealth & Trust FSB increased its stake in shares of BellRing Brands by 175.8% during the first quarter. MassMutual Private Wealth & Trust FSB now owns 444 shares of the company's stock worth $33,000 after purchasing an additional 283 shares in the last quarter. First Horizon Advisors Inc. increased its stake in shares of BellRing Brands by 283.3% during the first quarter. First Horizon Advisors Inc. now owns 460 shares of the company's stock worth $34,000 after purchasing an additional 340 shares in the last quarter. Colonial Trust Co SC purchased a new stake in shares of BellRing Brands during the fourth quarter worth about $44,000. Finally, Aster Capital Management DIFC Ltd increased its stake in shares of BellRing Brands by 747.7% during the fourth quarter. Aster Capital Management DIFC Ltd now owns 729 shares of the company's stock worth $55,000 after purchasing an additional 643 shares in the last quarter. 94.97% of the stock is currently owned by institutional investors and hedge funds.

BellRing Brands Trading Down 0.3%

Shares of NYSE BRBR traded down $0.20 during midday trading on Wednesday, reaching $57.31. 1,575,739 shares of the stock were exchanged, compared to its average volume of 1,401,191. The company has a market capitalization of $7.28 billion, a P/E ratio of 26.66, a P/E/G ratio of 1.80 and a beta of 0.70. BellRing Brands Inc. has a 52-week low of $48.06 and a 52-week high of $80.67. The stock has a 50 day moving average price of $62.43 and a 200-day moving average price of $69.86.

BellRing Brands (NYSE:BRBR - Get Free Report) last released its earnings results on Monday, May 5th. The company reported $0.53 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $0.53. BellRing Brands had a net margin of 12.82% and a negative return on equity of 133.63%. The firm had revenue of $588.00 million during the quarter, compared to the consensus estimate of $577.56 million. During the same period in the previous year, the firm earned $0.45 earnings per share. BellRing Brands's revenue was up 18.9% compared to the same quarter last year. On average, analysts forecast that BellRing Brands Inc. will post 2.23 earnings per share for the current year.

Insider Activity at BellRing Brands

In other news, CEO Darcy Horn Davenport sold 1,600 shares of the firm's stock in a transaction dated Thursday, July 3rd. The shares were sold at an average price of $57.45, for a total value of $91,920.00. Following the transaction, the chief executive officer directly owned 200,378 shares in the company, valued at approximately $11,511,716.10. This trade represents a 0.79% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders have sold 8,000 shares of company stock worth $477,872 over the last 90 days. Insiders own 1.07% of the company's stock.

Analysts Set New Price Targets

Several analysts recently issued reports on BRBR shares. Evercore ISI dropped their price objective on shares of BellRing Brands from $90.00 to $82.00 and set an "outperform" rating for the company in a research note on Wednesday, May 7th. Barclays set a $75.00 price objective on shares of BellRing Brands and gave the stock an "overweight" rating in a report on Wednesday, May 7th. DA Davidson upgraded shares of BellRing Brands from a "neutral" rating to a "buy" rating and set a $85.00 target price on the stock in a report on Tuesday, May 27th. Morgan Stanley began coverage on shares of BellRing Brands in a report on Monday, March 24th. They set an "overweight" rating and a $84.00 target price on the stock. Finally, Mizuho reduced their target price on shares of BellRing Brands from $85.00 to $75.00 and set an "outperform" rating on the stock in a report on Wednesday, May 28th. Three investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $76.69.

About BellRing Brands

BellRing Brands, Inc, together with its subsidiaries, provides various nutrition products in the United States. The company offers ready-to-drink (RTD) protein shakes, other RTD beverages, powders, nutrition bars, and other products primarily under the Premier Protein and Dymatize brands. It distributes its products through club, food, drug, mass, eCommerce, specialty, and convenience channels.